Member Info for harel

I also expect eco will farm down 20-25% of block 2b for a partial carry leaving it with 20-30 million$ post gazania..
Such events will change the sentiment..

In the energy sector that was defensive while tech and other sectors dropped.
The only good thing here is that eco will drill soon and if we hit oil nothing will stop a big rerate.
Now the the jhi deal is off eco is "mc light" and a discovery will rerate eco to the 70's

topped up 0.245p, next stop 0.22p, hopefully it wont get there..

back in after a while, looks like a great entry point.
markets dropped living a nice big gap to rebound, my guess is a rally of about two-three weeks until the next fed decision, so im hopefully back for short term but in any case the serenity appraisal is soon enough so this investment is hedged..

I do believe a farm out in gazania will be completed in coming weeks, but dont forget eco still got great exposure for canje with no funds required, so eco's finance status is actually better, and the un diluted mc leaves great upside from canje.
Jhi will probably merge prior to the drill bit and eco will be diluted a bit in canje but the merged company will have much more funds and exposure and the gross value will be higher so eco's holdings will be worth more and risk will be lower.

60% it is- "Gazania-1 is considered a near-term low-risk well, and the prospect's size has best estimated prospective resources of 200 million barrels.  It has a 60 percent chance of success and will target an up dip section of the discovered A-J reservoir, along with overlapping potential reservoirs. "
https://www.energyconnects.com/opinion/features/2022/february/african-exploration-what-is-at-stake/

Mine is from memory so go with p..

60%

a gazania hit is worth 100p for the least.

Cataleya is working on a deal in guyana, orinduik was a speculation as stated but not very probable, canje is another thing, much more probable and the way jhi ended the eco deal they obviously have a done deal in hand, could be cataleya and could be a triple merga with ratio petroleum.
Time will tell..

Thinking about it, they just might merge to one company with 17.5% interest in canje, 20% in kaieteur and around 50m$ cash.

If jhi didnt have a back up plan they would agree for a six months lock in, the fact they went all the way to terminate the deal means its deliberate, jhi have a better offer.
Cataleya, with its 30m$ cash, is looking for an investment in guyana, my guess is a deal with jhi of shares swap and cash, exposing jhi to kaieteur, raising cash for the first well.

the termination of the jhi deal builds a lot of confidence between the company and the share holders.
a lot of companies wouldn't terminate such a company making potential deal for the sake of the share holders and the risk involved with allowing a sale of the new shares that were to be given to jhi.
as cheap as this deal was i much rather enjoy our potential 10% equity in jhi and not having to fund the next canje campaign.
no dilution for the eco share holders is another benefit and at this mc the upside of a canje discovery is still a bagger..
having contacted a third party participant in canje, they expect a year end/early 2023 spud, so we have much to wait for and eco can focus on the best way to move forward with its multiple world class exploration blocks..

now that wte is keeping its full canje exposure i talked with the bod about their prediction for the next canje well and couldnt be happier with the respond:
"We don't have any specific guidance on the start-up of the next Canje campaign - EM guys appear to be flat-out with 6 drillships engaged in development & appraisal/exploration drilling on Stabroek - so expect we are looking at late 2022/early 2023 for the start of the next one."

now the upside is back to wte, the jhi deal with eco dropped the sp from the 8p level to the current price, but now with the being terminated and the next spud just around the corner i would expect to see wte in the 10p level on spud..

And eco still as an option to buy more percentage in jhi if a discovery will be made..

I know for a fact cataleya is working on a deal in guyana, cataleya could offer a 15m$ to jhi for 20-30% of the shares, giving jhi funds for 2 wells including cash in hand.
The jhi lock in refusal looks to me as a deliberate deal braker.
For us its good, no dilutions, great exposure to canje with no further funds needed.
More funds to cover other wells.
Once a new improved jhi deal will be completed that should create value for eco as a jhi holder, and could see eco enjoy 2 funded wells in canje.

i believe its all about jhi having better options, we just might have a new deal coming, might be cataleya..

thats the best news wte had in a long time, no dilution in the canje exposure for wte..
jhi might have used the lock up issue to terminate the deal, that was a very cheap sale for jhi..

tlw, as part of its debts managements, relinquished most of its blocks including pel 90 just miles away from venus-1 for free, yet orinduik was kept so its a matter of perspective.
now that tlw is well funded it just might happen, drilling decision is just 2 month away.
even if orinduik will be delayed, eco got so many world class drill ready prospects so the money will be used for another prospect.
for me the most interesting block is canje, just waiting for that cpr to land with exxons planned campaign to be released.
just think what a 5-10 billion boe pmean and a 3 wells campaign led by exxon and total would do to eco's sp.
the best prospects for me is where the best partners are...

How much time gbp got?
They are living on dilutions..
They already lost their better half acreage waiting for farm out..
I cant see any farm out in the walvis before a basin opener discovery but who knows..